Banner (NASDAQ:BANR) Receives Overweight Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Banner (NASDAQ:BANR) in a report published on Thursday, Benzinga reports. Stephens currently has a $53.00 target price on the financial services provider’s stock.

Several other research analysts have also weighed in on the company. DA Davidson cut their target price on Banner from $50.00 to $47.00 and set a neutral rating on the stock in a research report on Friday, April 19th. StockNews.com downgraded Banner from a hold rating to a sell rating in a report on Saturday, June 8th. Finally, Piper Sandler decreased their target price on Banner from $54.00 to $51.00 and set an overweight rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $51.20.

Banner Trading Down 1.3 %

Shares of BANR stock opened at $58.49 on Thursday. The firm’s 50-day simple moving average is $48.02 and its 200-day simple moving average is $47.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. Banner has a 1-year low of $39.31 and a 1-year high of $61.34. The firm has a market cap of $2.01 billion, a P/E ratio of 12.16 and a beta of 1.06.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.17 by $0.05. The firm had revenue of $144.55 million during the quarter, compared to analyst estimates of $150.67 million. Banner had a net margin of 20.93% and a return on equity of 11.02%. As a group, equities analysts forecast that Banner will post 4.72 EPS for the current year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.28%. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Hedge Funds Weigh In On Banner

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TFO Wealth Partners LLC raised its stake in shares of Banner by 35,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 716 shares during the period. EntryPoint Capital LLC increased its stake in Banner by 100.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after buying an additional 558 shares during the period. CWM LLC increased its stake in Banner by 49.9% during the 4th quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock worth $61,000 after buying an additional 378 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Banner by 19.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after buying an additional 245 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Banner in the 1st quarter valued at about $202,000. 87.33% of the stock is owned by institutional investors and hedge funds.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.